Resnicks’ Stake in Kern Water Bank Could Be Worth $1 Billion: Forbes
Every year, Forbes compiles a list of the 400 wealthiest Americans. This year, Stewart and Lynda Resnick, who are famous for Pom Wonderful, Fiji Water, and Halos oranges, are ranked No. 108, with an estimated worth of $8 billion.
This week, Forbes decided to calculate how much the Beverly Hills couple’s 57% stake in the Kern Water Bank is worth. With the scarcity of water in the West driving water prices higher, the experts at Forbes say the Resnicks’ water bank holdings could be worth more than $1 billion.
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In the latest episode of “Priceless,” Forbes reporters Michela Tindera and Chloe Sorvino are joined by water experts, including SJV Water’s Lois Henry, to talk about how the Resnicks’ acquired their majority interest in the Kern Water Bank and how much it is worth.
Forbes notes that Stewart Resnick bought his first farmland parcel in California in 1978 as a hedge against inflation.
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